Dena Bank Q1 net profit up 21 pc

MUMBAI: Public sector lender Dena Bank today reported a 20.67 per cent jump in net profit for the first quarter ended June 30 to Rs 138.79 crore.

The company had posted a net profit of Rs 115.02 crore during the corresponding quarter of the last fiscal, Dena Bank said in a filing to the Bombay Stock Exchange.

The bank also reported an increase of 8.72 per cent in total income during the first quarter to Rs 1,221.78 crore, as against Rs 1,123.82 crore in the year-ago period.

The percentage of Dena Bank's gross non-performing assets (NPAs) to gross advances went down to 2.11 per cent in the quarter ended June 30 from 2.22 per cent during the same period of 2009-10.

Its net NPAs, however, grew to 1.49 per cent during the first quarter from 1.26 per cent in the corresponding period of the previous fiscal, the filing said.

The bank reported a revenue of Rs 627.74 crore from its corporate banking segment for the quarter ended June 30, up 17.56 per cent over the figure of Rs 533.97 crore for the same period last fiscal.

Its revenue from the retail banking segment went up by 5.95 per cent during the first quarter of this fiscal to Rs 255.56 crore from Rs 241.20 crore during the year-ago period, Dena Bank added.